Telemetry Investments L.L.C. raised its position in shares of $Occidental(OXY)$ by 57.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,000 shares of the oil and gas producer's stock after buying an additional 4,000 shares during the period. Telemetry Investments L.L.C.'s holdings in Occidental Petroleum were worth $676,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Amundi boosted its holdings in Occidental Petroleum by 40.0% in the second quarter. Amundi now owns 5,384,566 shares of the oil and gas producer's stock valued at $308,156,000 after purchasing an additional 1,537,686 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Occidental Petroleum by 2.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,035,799 shares of the oil and gas producer's stock worth $285,732,000 after buying an additional 118,928 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Occidental Petroleum by 32.8% during the 3rd quarter. Nuveen Asset Management LLC now owns 3,494,359 shares of the oil and gas producer's stock worth $214,728,000 after buying an additional 862,354 shares during the last quarter. First Trust Advisors LP lifted its holdings in Occidental Petroleum by 87.9% during the 1st quarter. First Trust Advisors LP now owns 3,276,078 shares of the oil and gas producer's stock worth $185,885,000 after buying an additional 1,532,100 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Occidental Petroleum by 117.2% during the 3rd quarter. Alliancebernstein L.P. now owns 2,424,556 shares of the oil and gas producer's stock worth $148,989,000 after buying an additional 1,308,043 shares during the last quarter. 78.45% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, major shareholder Berkshire Hathaway Inc acquired 1,678,017 shares of the stock in a transaction dated Monday, March 6th. The stock was bought at an average cost of $61.56 per share, with a total value of $103,298,726.52. Following the purchase, the insider now directly owns 198,392,755 shares of the company's stock, valued at $12,213,057,997.80. The transaction was disclosed in a filing with the SEC, which is available throughthis link. Corporate insiders own 0.31% of the company's stock.
Occidental Petroleum Trading Up 3.2 %
OXY stocktraded up $1.87 during midday trading on Tuesday, hitting $61.02. The stock had a trading volume of 5,673,065 shares, compared to its average volume of 12,770,022. The firm has a market cap of $54.92 billion, a PE ratio of 4.78, a price-to-earnings-growth ratio of 0.43 and a beta of 1.77. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.15 and a quick ratio of 0.88. Occidental Petroleum Co. has a 12-month low of $51.53 and a 12-month high of $77.13. The company's 50-day moving average price is $62.80 and its 200 day moving average price is $65.71.
Occidental Petroleum (NYSE:OXY-Get Rating) last released its earnings results on Monday, February 27th. The oil and gas producer reported $1.61 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.22). The firm had revenue of $8.22 billion during the quarter, compared to analysts' expectations of $8.21 billion. Occidental Petroleum had a return on equity of 52.68% and a net margin of 35.87%. The firm's revenue was up 97.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 earnings per share. On average, equities research analysts predict that Occidental Petroleum Co. will post 6.33 earnings per share for the current fiscal year.
Occidental Petroleum Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 10th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, March 9th. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.18%. Occidental Petroleum's payout ratio is currently 5.82%.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on OXY shares. Piper Sandler decreased their price target on Occidental Petroleum from $76.00 to $69.00 and set a "neutral" rating for the company in a report on Monday, December 19th. Bank of America upgraded Occidental Petroleum from a "neutral" rating to a "buy" rating and set a $80.00 price target on the stock in a research report on Friday, January 6th. Roth Capital restated a "neutral" rating on shares of Occidental Petroleum in a research report on Monday, February 27th. Morgan Stanley dropped their price target on Occidental Petroleum from $74.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 24th. Finally, The Goldman Sachs Group upgraded Occidental Petroleum from a "neutral" rating to a "buy" rating and set a $81.00 price target on the stock in a research report on Tuesday, February 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $75.72.
About Occidental Petroleum
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.
source：marketbeat
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